Discounted Cash Flow (DCF) Analysis Levered

SCOR SE (SCR.PA)

18.675 €

-0.14 (-0.74%)
All numbers are in Millions, Currency in USD
Stock DCF: 168.06 | 18.675 | undervalue

Free Cash Flow

Year
A/P
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Revenue 14,18114,44315,02815,42316,03416,534.5817,050.7917,583.1218,132.0618,698.14
Revenue (%)
Operating Cash Flow 1,1448918419882,4061,363.911,406.491,450.401,495.681,542.37
Operating Cash Flow (%)
Capital Expenditure -51-82-130-135-87-106.16-109.48-112.90-116.42-120.06
Capital Expenditure (%)
Free Cash Flow 1,0938097118532,3191,257.741,297.011,337.501,379.261,422.32

Weighted Average Cost Of Capital

Share price $ 18.675
Beta 1.247
Diluted Shares Outstanding 186.48
Cost of Debt
Tax Rate 31.22
After-tax Cost of Debt 2.37%
Risk-Free Rate
Market Risk Premium
Cost of Equity 9.414
Total Debt 3,221
Total Equity 3,482.44
Total Capital 6,703.44
Debt Weighting 48.05
Equity Weighting 51.95
Wacc

Build Up Free Cash Flow

Year
A/P
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Revenue 14,18114,44315,02815,42316,03416,534.5817,050.7917,583.1218,132.0618,698.14
Operating Cash Flow 1,1448918419882,4061,363.911,406.491,450.401,495.681,542.37
Capital Expenditure -51-82-130-135-87-106.16-109.48-112.90-116.42-120.06
Free Cash Flow 1,0938097118532,3191,257.741,297.011,337.501,379.261,422.32
WACC
PV LFCF 1,186.211,153.681,122.041,091.271,061.34
SUM PV LFCF 5,614.54

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 6.03
Free cash flow (t + 1) 1,450.77
Terminal Value 35,999.15
Present Value of Terminal Value 26,862.63

Intrinsic Value

Enterprise Value 32,477.17
Net Debt 1,138
Equity Value 31,339.17
Shares Outstanding 186.48
Equity Value Per Share 168.06